Mednick and Hyun of The Prospect Team at Compass sell six units
Brooklyn, NY Ian Mednick and Paul Hyun of The Prospect Team at Compass negotiated the $3.1 million sale of 571 8th St. in Park Slope a six-unit multi-family. Representing the sellers, the team achieved 100% of the asking price.
The four-story multifamily property had been owned by the same family for more than 50 years and is 50% rent-stabilized. The transaction brought the 6,196 s/f asset to local buyers who utilized a 1031 exchange, reinvesting proceeds from the disposition of properties in upstate New York.
The property was sold by the Mokarry Family Trust to John and William Walsh.
Belle Caplis of Compass was the buyer’s representative.
Mednick and Hyun represented the seller.
The sale highlights continued investor interest in Brooklyn’s multifamily market and the role of strategic brokerage in facilitating transactions involving rent-stabilized housing and tax-deferred real estate exchanges.
Mednick and The Prospect Team specialize in Brooklyn multifamily investment sales, residential properties, and development sites. Through local market expertise, targeted marketing, and access to Compass’s extensive agent network, the team advises property owners and investors on the sale and acquisition of real estate throughout Brooklyn.
The Prospect Team operates through Compass and The Prospect Team LLC, focusing on investment property transactions and residential real estate across Brooklyn.